Consider the data provided for the years 1871 and 1951. In comparison to the data for 1851, what can be said of the debt in the years in question? What major events occured just prior to 1871 and 1951, respectively?

The depression that began in 1839 ended with an upswing in economic activity in 1843.

The recovery from the depression that followed the Panic of 1837 began in 1843 and lasted until the Panic of 1857.

major events occured just prior to 1871 and 1951, respectively:

President Ulysses S. Grant creates the Civil Service Commission.

The Indian Appropriation Act of 1871 is passed. Tribes will no longer be seen as independent but as wards of the State.

The Coinage Act of 1873 is passed. This act removes silver from the coinage in order to more forcefully advocate for the gold standard.

For the first time since the beginning of the Civil War, the Democratic Party regains control of the House of Representatives.

The Civil Rights Act is passed, which states that no one can be denied equal access to public facilities.

Explanation:

After the expiration of the charter of the Second Bank of the United States, federal revenues were handled by the Independent Treasury beginning in 1846. The Second Bank of the U.S. had also maintained some control over other banks, but in its absence banks were only under state regulation.[157]

One of the main problems with banks was over-issuance of banknotes. These were redeemable in specie (gold or silver) upon presentation to the chief cashier of the bank.[153] When people lost trust in a bank they rushed to redeem its notes, and because banks issued more notes than their specie reserves, the bank couldn't redeem the notes, often causing the bank to fail. In 1860 there were over 8,000 state chartered banks issuing notes. In 1861 the U.S. began issuing United States Notes as legal tender.[169]

Banks began paying interest on deposits and using the proceeds to make short term call loans, mainly to stock brokers.[170]

New York banks created a clearing house association in 1853 in which member banks cleared accounts with other city banks at the close of the week. The clearinghouse association also handled notes from banks in other parts of the country. The association was able to detect banks that were issuing excessive notes because they could not settle.

after the civil war, and with the termination of slavery, the south was faced with a big problem; what was supposed to happen and how they were supposed to deal with the freedom and the rights that black people and freed slaves had gained as a result of the north defeating the south and forcing the end of slavery. first, most, if not all, of the workforce of the south came from slaves and they did not have an option to replace the loss of said workforce. second, particularly in the south, people were convinced that black people were lesser, less intelligent, less capable and less smart than whites. this posed a huge problem for them. also, southerners were faced with another issue; freed slaves now had a say in how their lives would be lived and the right to politically choose the way they would be governed. people in the south did not want to accept this, none of this and this opposition and the conflicts that arose from it, not to mention the afereffects of the war, forced the congress of the time to enact and enforce the reconstruction plans that had been proposed by president andrew johnson.